Early information update on the new announcements today

UPDATED Government Program as of 22 March ‘20

Details as announced as of 22 March 2020, Prior to Legislation being presented.

UPDATE: PAYGW credit of up to $100k for employers (Previously $25k) in two instalments

It is not law yet! It is extremely likely to become law.

Both sides of Parliament have indicated their support for these measures.

Awaiting: Sole Traders or Trust Beneficiaries – We are informed there is an announcement coming but not today. Note: the ATO initiative below to stop paying PAYGI provides a cashflow timing benefit.

Also Government announced Sole Traders availability to access Centrelink payments. No waiting period for Job Seeker eligibility and also a one off payment. (Details pending)